Latest deals data from across the region Disposal of Keltec
Bargate Homes
Completion Date: 16/10/14 Target: Bargate Homes
Acquirer: Prowting Investments plc - minority investment
Deal Value: £25 million
Details: Gerard Price led the team at Bargate Homes which achieved a significant fund raise to enable it to become the credible alternative to larger residential development companies. Spectrum acted as both lead adviser and debt adviser to Bargate Homes on its development capital raising from Prowting Investments plc and Royal Bank of Scotland to enable Bargate to deliver on larger development acquisitions and opportunities
Funding: Prowting Investments and Royal Bank of Scotland
Corporate Finance Advisers: Spectrum Corporate Finance (Ian Milne)
Legal Advisers: Coffin Mew (Amanda Brockwell, Jennifer Packer) for Bargate Homes , Shoosmiths for Prowting Investments and Osborne Clarke for NatWest
Financial Due Diligence: Baker Tilly (David Copley) J&Bs
Completion Date: 04/11/2014 Target: J&Bs Acquirer: John Nicholls Deal Value: Undisclosed
Details: Spectrum Corporate Finance acted as lead adviser to the shareholders of J&Bs, a four-site plumbing supplies, trade counter and retail bathroom business, on the disposal to John Nicholls
Funding: Royal Bank of Scotland Corporate Finance Advisers: Spectrum
Legal Advisers: Shoosmiths (target), Blake Morgan (funders), Shakespeare's (acquirer) Financial Due Diligence: Grant Thornton
New Call Telecom
Completion Date: 28/10/2014 Target: Nimbuzz Acquirer: New Call Telecom Deal Value: Undisclosed
Details: New Call Telecom, the fast growing international telecom company with a growing presence in India announced an agreement to acquire the fast-growing global mobile technology brand Nimbuzz which 200 million registered users. The deal marks one of the first big successes in the India Internet space outside of e-commerce
Legal Advisers: Penningtons Manches LLP, Kiveld International, Luthra and Luthra
Financial Due Diligence: Crowe Clark Whitehill Acquisition of TTS Equity
Completion Date: 24/10/2014 Target: TTS Equity Acquirer: Canada Square Health & Fitness Deal Value: Undisclosed
Details: Baker Tilly supported Encore Capital and its portfolio company (Canada Square Health & Fitness) by providing financial due diligence on its acquisition of TTS Equity, an operator of two premium gyms in London
Funding: Royal Bank of Scotland
Financial Due Diligence: Baker Tilly: Nick Williams, corporate finance partner; Peter Vandervelde, corporate finance partner; Michelle Harris, tax partner
THE BUSINESS MAGAZINE – THAMES VALLEY – DECEMBER14/JANUARY15
Completion Date: 10/11/14 Target: Asidua Acquirer: Civica UK Deal Value: Undisclosed
Details: Asidua, a specialist provider of integration, software and consultancy services with a telecommunications focus, has been acquired by Civica UK, a wholly owned subsidiary of Civica Group. International M&A adviser BCMS acted as lead sell side adviser to the vendors
Corporate Finance Advisers: BCMS Legal Advisers: Tughans
Investment in
LoveHolidays.com
Completion Date: 03/11/2014 Target:
LoveHolidays.com Deal Value: £250,000
Details: Solent-based venture capital fund, Meridian Growth Capital LLP, provided funds to support
Loveholdiays.com as part of a £3 million fundraise. Meridian first invested in 2009 when the business was a start-up and have consistently supported its growth with
LoveHolidays.com now transacting in excess of £100m TTV
Funding: Meridian Growth Capital Legal Advisers: Shoosmiths LLP
The Impact Group
Completion Date: 18/10/2014 Target: The Impact Group Acquirer: Tower Transit Deal Value: Undisclosed
Details: Spectrum Corporate Finance acted as lead adviser to the shareholders of The Impact Group, with Pitmans acting as legal adviser, on the disposal to Tower Transit. The Impact Group (part of the Australian-owned multi-national Transit Systems Group) with its west London headquarters, is a home to care and home to school contracted transport provider to local authorities and private schools and corporates, across the London area, the UK and Europe
Corporate Finance Advisers: Simon Davies of Spectrum Corporate Finance
Legal Advisers: Sean Kelly, Oliver Kelly and John Newton of Pitmans (target), Osborne Clarke - Bristol (acquirer)
Tax Adviser: Richard Churchill of Shelley Stock Hutter Funding: Investec Financial Due Diligence: Grant Thornton
Completion Date: 02/10/2014 Target: Propshop Acquirer: voxeljet Deal Value: Undisclosed
Details: Successful acquisition of Propshop by leading 3D printer manufacturer voxeljet, based in Germany. Shaw Gibbs Corporate Finance team advised and worked with Propshop at all stages of the deal: business plan prep, price negotiation, due diligence and project management
Corporate Finance Advisers: Shaw Gibbs Investment in BlisMedia
Completion Date: 31/10/2014 Target: BlisMedia Deal Value: Undisclosed
Details: Solent-based venture capital fund, Meridian Growth Capital LLP, increased its shareholding in BlisMedia a real-time bidding advertising technology company which uses very accurate location data to define digital audiences. Meridian first invested in 2011 and has supported the company through its growth and has delivered in excess of 600 million impressions in the past eight months alone
Funding: Meridian Growth Capital Legal Advisers: Shoosmiths LLP
Next Deadline
The next Deals Update will be in our February issue
Deadline for submissions is Friday January 16 To submit deal information or to advertise on this page contact: David Murray • 0118-9766410 •
david@elcot.co.uk
Elcot Publications is not responsible for the accuracy of information in the Deals Update section which is supplied by individual firms
www.businessmag.co.uk
Completion Date: 03/11/14 Target: Keltec Acquirer: Annodata Deal Value: Undisclosed
Details: HMT LLP, led by tax director Holly Bedford, advised Bracknell-based IT solutions provider Keltec on the disposal of the business to Annodata. Baker Tilly provided financial due diligence on behalf of Annodata, the £78 million revenue communications, managed print and data services business. Keltec has delivered technology solutions and managed services to corporate, SME and public sector organisations for over 20 years and is part of Annodata’s continued expansion into the cloud arena
Tax Advisers: HMT Legal Advisers: Pitmans (target), Osborne Clarke (acquirer)
Financial Due Diligence: Baker Tilly: David Copley, partner; Peter Vandervelde, partner; Alex Milne, manager; James Harris, executive; Robert Coupland, tax manager
Asidua acquired by Civica UK
Completion Date: 15/10/14 Target: Procius Acquirer: Mitie plc Deal Value: £2.3 million
Details: WK Corporate Finance LLP announces the £2.3m sale of Basingstoke-based firm, Procius to Mitie Group. Procius is a leading UK pre-employment screening business, operating mainly in the specialist sectors of aviation and transportation. The deal offered a perfect fit for Mitie’s growing total security management business, which is one of the largest providers of pre-employment screening
Corporate Finance Advisers: Philippa Robinson and Gemma Wild at WKCF
Legal Advisers: Robert Dawbarn and Lisa Powell at Kennedys Acquisition of Tower Bridge Health Clubs
Completion Date: 07/11/2014 Target: Tower Bridge Health Clubs Acquirer: Canada Square Health & Fitness Deal Value: Undisclosed
Details: Baker Tilly supported Canada Square Health & Fitness by providing financial due diligence on its acquisition of Tower Bridge Health Clubs, a premium gym operator based in London
Funding: Royal Bank of Scotland
Financial Due Diligence: Baker Tilly: Nick Williams, transaction services partner; Peter Vandervelde, transaction services partner; Philip Rossiter, transaction services associate director; Michelle Harris, tax partner; Rebecca Matthews, tax partner
Propshop
deals update 47 Project Stealth
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